After a strong run fueled by robust orders and Operation Sindoor, Indian defence stocks are facing turbulence. Shares of companies like Mazagon Dock and Cochin Shipyard have declined significantly, dragging down the Nifty India Defence index. This downturn is driven by concerns over high valuations, potential delivery delays, and execution risks.

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.

Indian stock markets began Wednesday with positive momentum, fueled by robust earnings from Larsen & Toubro, boosting investor confidence. However, the upward movement was limited as investors exercised caution in anticipation of the U.S. Federal Reserve s upcoming policy announcement. Uncertainty surrounding the delayed trade agreement between India and the U.S. also contributed to the restrained gains.

Asian Paints shares: Revenue from operations for the quarter stood at ₹8,924 crore, showing a slight decline of 0.20% compared to ₹8,943 crore in Q1FY25. However, on a quarter-on-quarter basis, the company experienced a notable recovery in profitability.

GNG Electronics made a strong debut on the stock exchanges, listing with substantial premiums on both NSE and BSE after its IPO was oversubscribed by a remarkable 150.21 times. The company, known for its Electronics Bazaar brand, specializes in refurbished ICT devices and benefits from a vertically integrated model and strong financials.

India s top private banks saw a slowdown in profit growth. Combined net profit reached ₹43,641 crore in the June quarter. This is a 2.7% increase, lower than the previous year. Sluggish credit and deposit growth impacted performance. Treasury gains helped support profitability. Some banks like Axis Bank and Kotak Mahindra Bank experienced subdued results.

The National Stock Exchange (NSE) announced strong financial results. The consolidated profit after tax reached ₹2,924 crore in the June quarter. This represents a 10% increase compared to the January-March quarter. Revenue from operations also saw a rise, climbing 7% to ₹4,032 crore. The growth was fueled by increased trading volumes in both the cash market and derivatives segments.

The Centre is set to overhaul the boards of leading state-run companies like BHEL and ONGC within six months, aiming for global standards. This restructuring involves increasing the number of independent directors to enhance autonomy in decision-making. A search committee will select these non-official part-time directors.

Jio Financial Services is considering raising funds through various methods, including equity shares, warrants, or a QIP, as decided in a board meeting on Wednesday. Promoters, including the Ambani family, are likely to increase their stake to 51% via a preferential issue priced at ₹318 per share, potentially infusing ₹8,000 crore.

M&B Engineering plans to raise ₹650 crore through an IPO, including a fresh issue and offer for sale, to fund expansion and debt repayment. The company, known for its AISC-certified PEB facility and higher margins, will see promoter stake decrease post-IPO.